Jio Platforms has completed its overseas investor roadshows as Reliance Industries’ digital services arm moves closer to its planned public listing. The company met potential investors across the US, UK, Dubai, Singapore and Hong Kong, with the IPO now moving towards the red herring prospectus stage.
Jio Platforms completes global investor roadshows
Jio Platforms has concluded the first leg of its global IPO roadshows, according to a source cited by PTI. The meetings were held across major financial centres including the US, UK, Dubai, Singapore and Hong Kong and were led by Jio Platforms Managing Director and Reliance Jio Chairman Akash Ambani and Reliance Retail Ventures Executive Director Isha Ambani.
The company is now preparing its final public-offer documents. Reports indicate that Jio Platforms is expected to file its red herring prospectus with the Securities and Exchange Board of India in the week beginning October 12, taking the IPO process into its final stages.
This is Jio Platforms IPO, not a direct Jio IPO
The upcoming offering is important to distinguish from a direct IPO of Reliance Jio Infocomm. Jio Platforms is the Reliance Industries subsidiary that houses Reliance’s digital businesses, with Reliance Jio Infocomm forming the core telecom operation within the group.
The proposed IPO will therefore be for Jio Platforms. The company’s businesses extend beyond mobile connectivity into areas including artificial intelligence, cloud services and enterprise networking.
Jio Platforms IPO could open on October 21
The latest reports point to October 21 as the expected opening date for the Jio Platforms IPO. Reuters reported that the company is targeting an approximately $3.8 billion offering, while shares are expected to list on October 28. These dates are based on sources familiar with the plans and are not a formal public issue timetable yet.
PTI-linked reports indicate that an anchor investor round could take place on October 19, followed by the public issue from October 21 to October 23. An India-focused investor roadshow is also expected in the week beginning October 12 after the red herring prospectus is filed.
IPO could raise around $3.8 billion
The proposed issue is expected to raise around $3.8 billion, which would make it one of India’s largest IPOs and potentially the country’s biggest public offering if the reported size and valuation materialise.
Jio Platforms’ draft prospectus provides for a fresh issue of up to 27 crore equity shares, equivalent to around 2.9% of its post-issue equity base. The company has already received SEBI’s final observations on its proposed IPO after filing its draft papers earlier this year.
What will Jio Platforms use the IPO money for?
A substantial portion of the IPO proceeds is expected to be used to repay or prepay borrowings of Reliance Jio Infocomm, the telecom subsidiary of Jio Platforms. The draft prospectus provides for up to Rs 27,500 crore to be used towards the repayment or prepayment of these borrowings.
This means the IPO is not simply about putting Jio’s mobile business on the stock market. It is also part of the broader financial restructuring and capital strategy around Jio Platforms and its operating businesses.
Jio Platforms valuation and financial scale
Banking sources cited in recent reports have indicated a potential enterprise valuation of around $143 billion to $146 billion or more. The reported valuation is based partly on investor discussions during the overseas roadshows and should not be treated as the final IPO valuation until the company discloses the relevant details.
Jio Platforms reported revenue of Rs 1,46,885 crore for FY26, up 14.5% year-on-year, while profit after tax increased 15% to Rs 30,053 crore. Its scale is anchored by Reliance Jio Infocomm, which had around 506 million mobile customers according to recent reports.
What happens next
The next major milestone is the filing of the red herring prospectus, expected in the week starting October 12. That document should provide greater clarity on the final issue structure, price band, share allocation and other details investors will need before the IPO opens.
For now, the completion of the overseas roadshows marks another step towards Jio Platforms’ expected public-market debut. The reported October 21 opening and October 28 listing should still be treated as planned dates until the company and regulatory documents formally establish the final IPO timetable.
